Armenia’s exports to EU countries shrink 24.3% in Jan-May 2019

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YEREVAN, July 13. /ARKA/. Armenia’s exports to the European Union countries for Jan-May 2019 totaled $227.7 million showing a 24.3% decline, the National Statistical Committee of Armenia reports.

According to the statistical report, the decline was mainly due to reduction of exports to Romania – Armenian commodities have not been sent there since the beginning of this year – and also because exports to Germany have shrunk 56.1% in Jan-May 2019, compared with the same period a year before.

Exports to Bulgaria, Finland, Austria, Spain and Belgium have shrunk as well – they have reduced by 34.8%, 27.8%, 22.4%, 14.8% and 13.3% respectively.

Instead, exports to some other countries have grown many times. In particular, exports to Denmark have grown 2.4 times to $882,900, to France 2.6 times to $4,885,700 and to Sweden 11.3 times to $733,300.

Imports from EU countries into Armenia have shrunk as well – 11.1% to $393 million.

The biggest decline was recorded in imports from Greece – 73.2% to $6.4 million, while imports from Denmark showed the highest year-on-year growth in Jan-May 2019 – 63.1% to $5.58 million.

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